ITALY: Air conditioning and refrigeration controls manufacturer Carel has been listed on the Italian stock exchange.
The initial offering involved 35 million shares, representing 35% of the company’s share capital. The public float was offered through private placement reserved for qualified investors in Italy and institutional investors abroad. The shares included in the offering were sold pro-rata by Carel founders Luigi Rossi Luciani and Luigi Nalini.
“The idea to list on the stock exchange, while still maintaining control of the company, is a long-term project we have been working on for many years,” commented Francesco Nalini, Carel CEO. “We believe it will be positive for long-term performance, so as to avoid resting on our laurels or becoming self-referential, while being open to the market.”
“The decision to list on the stock exchange was taken as part of the development strategies that have always defined our company, and can therefore be considered a fundamental step in assuring further growth: being present on the financial market will in fact represent a boost and an incentive to improve even more,” commented Carel’s founders, Luigi Rossi Luciani and Luigi Nalini.